LIC IPO Subscription Status, GMP- How Largest Ever IPO Is Faring?

As per data, LIC IPO regardless of the turbulent market conditions has been receiving good response. It has come to light that reserved category subscribers including employee and policyholders are applying for maximum lots depending upon their affordability. This is because in case of the reserved quota in the LIC IPO, share allotment shall be on a proportionate basis while in case of retail category it shall be via draw. So, the chances of share allotment are higher in the reserved quota.

The LIC IPO which opened yesterday will remain open until May 9 and even on Saturday for public subscription. In the Rs. 21000 crore IPO, the largest insurer has already garnered more than Rs. 5600 crore from anchor investors.

LIC IPO Subscription details as on Day 2:

As of 10:11 am on the second day of bidding, LIC IPO has been subscribed 0.69 times. On the first day, the issue received a 67% subscription with robust demand from the reserved category and also retail investors. The policyholder portion led lapping up twice the portion reserved for them of 1.99 times. Further, portion for the employee category also got 100% subscribed with bids of 1.17 times.

LIC IPO shares: Latest GMP

As per IPOwatch.in that tracks IPO GMP or grey market premium, LIC shares in the unlisted market are commanding a premium of Rs. 65. Thus hinting at a listing at a price of around Rs. 1014 and hence probable listing gains of over 10%.